Published: Jul-2021 | Format: PDF | Market Research Store | Number of pages: 145 | Code: MRS - 828600
According to the report published by Market Research Store, global demand for the agent performance optimization (APO) market was estimated at approximately USD 2,300 Million in 2020 and is anticipated to generate revenue of around USD 6,300 Million by end of 2026, growing at a CAGR of around 14.2% between 2021 and 2026.
Global Agent Performance Optimization (APO) Market: Overview
Agent performance optimization is commonly used in contact centres. The aim of these contact centre applications is to lower labour costs, improve agent effectiveness, and improve service levels. These tools make it easier for managers to prepare schedules, forecast agent needs, measure agent output, analyse results, and improve results. These systems, in turn, produce quantifiable outcomes such as a short payback period and a high return on investment. Because of the aforementioned advantages, the global agent performance optimization market is expected to expand significantly.
|REPORT SNAPSHOT & REPORTING DATA TIMEFRAME|
|2020 Market Size||~USD 2,300 Million|
|2026 Market Size||~USD 6,300 Million|
|CAGR (2021 – 2026)||~14.2%|
|Historical Date ( Actual DAta)||2016 - 2020|
|Base Year Data||2020|
|Current Year Data||2021|
|Projected Data||2021 - 2026|
Global Agent Performance Optimization (APO) Market: Growth Factors
An increase in demand for outsourcing contact centre activities is expected to fuel the market for agent efficiency enhancement. Outsourcers can differentiate themselves from rivals by showing optimum savings and value adds through agent performance optimization software, which is expected to drive the agent performance optimization segment in the outsourcing landscape. The business is expected to see new opportunities as the emphasis shifts to improving the customer experience through customer agent engagement. Other factors such as the demand for outsourcing contact centres, increasing investment in workforce management&quality control, technical innovation & growth in APO, and the APO applications are expected to drive the market. Due to the growing need to improve customer experience through customer-agent engagement, the global agent performance optimization market is expected to develop rapidly in the coming years. Customer-agent recordings offer further insight into customer conduct, which propels the agent performance optimization (APO) industry forward. The agent performance optimization market is expected to be driven by significant shifts in technology, value enhancement, and how organisations view agent performance optimization. Workforce management has progressed from simplistic hardware systems to a series of complex quality assurance applications, resulting in innovative solutions for agent performance optimization. Increasing demand for agent performance optimization tools is expected to be fueled by applications that perform enhanced recording and scheduling. In addition, new applications that collect data from traditional systems in order to create new efficient ways of data processing are expected to drive market demand. Performance monitoring, dashboards, scorecards, coaching, and tailored training delivery are all made possible by improved tools. Speech analytics, desktop screen analytics, performance management systems, and simulation building tools for planning are all popular tools that help agents improve their performance. The market is expected to continue to grow with increased innovation and expansion into new markets with rapidly developing economies.
Global Agent Performance Optimization (APO) Market: Segmentation
The market is bifurcated based on type and application. Based on type segmentation, the market is split into cloud-based and on-premises. The cloud-based segment holds the largest share as cloud-based platforms eliminate the hassle of upgrading and improving infrastructure due to its simplicity, usability, and security, helping you to focus your time, money, and energy on your core business strategies. With assured up-time of 99 per cent and real-time access to systems and data from a range of devices regardless of location, the cloud is quickly becoming the top choice for companies around the world, with adoption rates exceeding 91 per cent in 2019. On the basis of application type, the market is bifurcated into small & mid-sized businesses and large enterprises. Almost half of new businesses use a mobile network to store cloud data. It's easy to see why small business cloud storage consumers value mobility: onsite storage solutions confine employees to the workplace, while the Cloud allows employees to view data from anywhere as long as an Internet connection is open. Employees will share, review, and update files from home, on the road, or at a meeting. The ability to access data collected in the Cloud from a mobile device boosts business knowledge usability and enhances work performance. In contrast to the procurement and operation of robust recovery facilities, cloud storage allows for a substantial decrease in the overall cost of ownership. Small companies save a large amount of money by using cloud backup services.
Global Agent Performance Optimization (APO) Market: Regional Analysis
In the forecast period of 2020 to 2026, North America will dominate the market, while Asia-Pacific is expected to grow at the fastest rate due to the growing number of global outsourcing hubs for contact centres in the region. Since it is the largest source of offshore work for many regions, including Asia-Pacific, the United States is expected to have the largest market share for agent output optimization. Furthermore, Asia Pacific is projected to rise at a fast rate during the forecast period. This could be due to the region's various multinational outsourcing hubs for contact centres.
Global Agent Performance Optimization (APO) Market: Competitive Players
Key players operating in the agent performance optimization (APO) market are ZOOM International, NICE Ltd, HigherGround, Inc., Genesys, CallFinder, Verint Systems Inc, CallMiner, Aspect, Envision Telephony, Calabrio, Upstream Works Software, Five9, InVision AG, and Teleopti AB. Granulate, an autonomous real-time computing workload optimization company, announced a partnership with Intel in March 2021 to demonstrate new Java-based performance results using Granulate's real-time continuous optimization software solution, with the major improvement of 2nd Gen Intel Xeon Scalable processors. To help simplify accidents and avoid disturbances, ServiceNow is releasing a single framework that collects diagnostic data from business applications, cloud, and on-premises infrastructure. Agent Client Collector, or ACC, is being launched by the organisation to provide visibility and enable service and operations teams to automate incident resolution. These key players in order to obtain a reputed position in the global market have implemented several strategies such as signing agreements, bonds, contracts, partnerships, joint ventures, new product launches, collaborations, and mergers & acquisitions.
Global Agent Performance Optimization (APO) Market: By Type Segmentation Analysis:
Global Agent Performance Optimization (APO) Market: By Application Segmentation Analysis
Global Agent Performance Optimization (APO) Market: Regional Segmentation Analysis
Frequently Asked Questions
What are the key factors driving agent performance optimization (APO) market expansion?
The market for agent performance enhancement is projected to be driven by a surge in demand for outsourcing contact centre operations. Agent performance optimization tools can help outsourcers stand out from competitors by demonstrating maximum savings and value adds, which is expected to fuel the agent performance optimization market in the outsourcing landscape.
What will be the value of the agent performance optimization (APO) market during 2020- 2026?
According to Market Research Store, global demand for the agent performance optimization (APO) market was estimated at approximately USD 2,300 Million in 2020 and is anticipated to generate revenue of around USD 6,300 Million by the end of 2026, growing at a CAGR of 14.2% between 2020 and 2026.
Which region will make substantial contributions to global revenues from the agent performance optimization (APO) market?
In the forecast period of 2020 to 2026, North America will dominate the agent performance optimization (APO) market, while Asia-Pacific is expected to grow at the fastest rate due to the growing number of global outsourcing hubs for contact centres in the region.
What are the key players leveraging agent performance optimization (APO) market growth?
The major players dominating the global agent performance optimization (APO)market in terms of revenue and development are ZOOM International, NICE Ltd, HigherGround, Inc., Genesys, CallFinder, Verint Systems Inc, CallMiner, Aspect, Envision Telephony, Calabrio, Upstream Works Software, Five9, InVision AG, and Teleopti AB, and Others.
Agent Performance Optimization (APO)
Agent Performance Optimization (APO)